Fair deal for former Ford UK workers transferred into the Visteon Pension Fund

The key point of the agreement between Ford Motor Company and the European Works Council was that all Ford employees who transfer to Visteon in the event of a spin-off will be guaranteed, for the rest of their working lives, the pay and extra payments laid down at Ford. This is also the case for pension rights. (more information can be found at:

http://www.eurofound.europa.eu/eiro/2000/04/inbrief/de0004254n.htm.

http://www.visteonpensionactiongroup.co.uk/

The purpose of this cause is to bring pressure on Ford Motor Company globally to correctly fund the UK Visteon pension scheme to the same level as those in the UK Ford Pension Scheme.

1. Ford created Visteon UK as a separate company in 2000 with the promise that employees will have Ford Motor Company terms for life

2. One of these commitments was that the pension will be fully comparable with full FMC members.

3. This fund was taken into the Pension Protection Fund as there was insufficient assets in the pension scheme to cover levels of compensation.